Personal Finance

12 Books That Boost Family Financial Literacy While on Quarantine

The coronavirus crisis may have brought serious concerns like job losses and financial woes to families. Also, the social distancing rules that governments across the globe had imposed have made families isolated temporarily from their friends, other family members, and colleagues. Nevertheless, being on quarantine can be an opportunity to reflect not only on one’s financial situation but also on the financial literacy skills of oneself and his family. These moments of seclusion at home can be productive for those not severely impacted by the pandemic. The following 12 books about personal finance are for audiences of diverse age ranges. Families can utilise this reading list to ponder on which financially educational reading material to purchase in print or download while quarantining in their residential properties.

These educative references aid adult readers to refresh their knowledge about how to keep their finances sorted properly. Furthermore, they enable the readers to discover new ideas on how to build wealth if they want to become affluent or to be in a much better financial position than where they are at present. Meanwhile, the reading materials for children allow the young members of the family to begin learning about the significance of money at an early age. These books offer simplified concepts broken down into understandable formats to aid the youth get the financial jumpstart they need.

(1) “The 30-Day Money Cleanse: Take Control of Your Finances, Manage Your Spending, and De-stress Your Money for Good”

Before the coronavirus crisis, families may not have had sufficient time to reflect on their spending habits, especially those people who have their finances out of order. This financial literacy book is ideal reading material for adults who need to mitigate their monetary stress. For one month, this educational reference by Ashley Feinstein Gerstley challenges the reader to sort his financial life. It offers doable strategies that enhance the reader’s financial decision-making capacity.

(2) “How to Make Your Money Last: The Indispensable Retirement Guide”

While on quarantine in their homes, retired members of the family can refresh themselves on how to make smart use of their money in the bank through this informative financial literacy reference. Jane Bryant Quinn believes that Baby Boomers of today can still learn more in terms of managing their hard-earned pension and savings. She explained how the retirees could make the most of their assets. Plus, she helped the elderly readers understand how to stretch their money out over plenty of years.

(3) “I Will Teach You to Be Rich”

This affordable book by Ramit Sethi educates the reader about the fundamentals of wealth-building. If parents or their young adult children desire to become in a much better financial position than where they are today, reading this exciting reference is the perfect method to put their finances in order and to prepare them for affluence. The author straightforwardly discussed budgeting. Furthermore, he explained in this reference how the financially comfortable condition of being wealthy could be within the reader’s reach in his lifetime despite present market uncertainties.

(4) “How to Turn $100 into $1,000,000: Earn! Save! Invest!”

Jeannine Glista, Matt Fontaine, and James McKenna believe that parents can offer their children the once-in-a-lifetime opportunity to become a millionaire. With their highly informative and amusing financial literacy reference, their readers who are parents can walk their children through learning effective financial habits and obtain the mindset that comfortable and financially secure people possess. Furthermore, the young members of the family can discover more about how to earn, save, and invest hard-earned money through this financially educational book.

(5) “The Minimalist Budget: A Practical Guide on How to Save Money, Spend Less and Live More with a Minimalist Lifestyle”

Families may realise while adhering to social distancing rules these days that their spending habits have been out of control. With the coronavirus pandemic leaving them at home for quite some time, they have the opportunity to evaluate their budget these days, and this book is helpful. Author Simeon Lindstrom understands that spending is an inevitable human activity. Through his financial literacy reference, he advocates the strategy of restructuring one’s economic life and adopting the minimalist lifestyle.

(6) “OMG: Official Money Guide for Teenagers”

While bonding at home amid the coronavirus pandemic, parents can help their teenage children make intelligent financial decisions at present and in the future via this comprehensive financial literacy guide. Michael and Susan Beacham understand that teenagers frequently make significant decisions about money. These instances include planning their university education and getting their first job. Hence, the husband-and-wife authors wrote their educative book, which facilitates young readers to enjoy and get enlightened substantially. The Beacham couple’s reference covers subjects about insurance, budgeting, philanthropy, and credit cards. Teenagers reading this book will find the concepts clear to understand, thanks to the helpful charts and infographics.

12 Books That Boost Family Financial Literacy While on Quarantine

(7) “Measuring Success: A Practical Guide to KPIs”

21st-century businesses are going digital. Many readers are presently working from home due to the coronavirus crisis. Reading this enriching reference can help them learn about the strategies of contemporary enterprises. Author Greg Brisendine wrote this book that teaches about companies’ key performance indicators or KPIs, and how they affect profits and business operations.

(8) “How to Do Nothing: Resisting the Attention Economy”

Social distancing protocols may cause go-getters in the family to feel uncomfortable. It is because these high achievers always want to get the most of their time daily. Nevertheless, this book by Jenny Odell will enlighten the reader that having zero activities at some point and taking things easy can be auspicious. The author explained that people must experience a productive halt, particularly when things get out of hand. Aside from elucidating about the economy, this enriching reading material is perfect for perusing amid the coronavirus crisis because it educates the readers about how to remain in a quiet mode amid the chaotic or uncertain times.

(9) “Age-Proof: Living Longer Without Running Out of Money or Breaking a Hip”

Baby Boomer parents can learn considerably from Michael Roizen and Jean Chatzky through this educational book. The authors discussed affluence and linked this much-coveted situation of financial abundance to wellness. Moreover, they advised the readers about how to protect their hard-earned retirement savings and stay in optimal health.

(10) “Anatomy of the Bear”

This book by Russell Napier refreshes the reader’s knowledge about financial history. Furthermore, it teaches about the mechanics of the markets. The coronavirus crisis has dispatched stocks southward and led investors into a bear market. However, a reader would not feel worried about the present economic climate because the thorough discussion about the market’s capability for resilience in “Anatomy of the Bear” will surely relieve him from anxiety.

12 Books That Boost Family Financial Literacy While on Quarantine

(11) “Stack Your Savings: How to Save More Money, Slash Your Spending, and Master Your Finances”

Becoming a financially savvy consumer is possible, according to Rebecca Livermore. She and fellow author SJ Scott share the same belief. Hence, they both helped their readers decelerate their spending and augment their savings through their financial literacy reference. Also, this book features seven pillars that advance the nature of being financially astute. Families reading this book will feel motivated by the authors’ enlightening and encouraging explanations.

(12) “The Broke Millennial: Stop Scraping By and Get Your Financial Life Together”

Millennials are people born between the early 1980s to the mid-1990s. As of May 2020, these members of the family are building their careers or raising their own families. Erin Lowry educates these young adults with this financial literacy book about saving one’s hard-earned money in adulthood. Debt elimination is possible, as per the author through her concrete explanations about the fundamentals of money.

Following the Government of Australia’s social distancing protocols and remaining in isolation for quite some time can serve as a financially educational period for families. After all, they get the rare chance to peruse the books from this list. These references are some of the best reading materials for every member of the family. Readers can get considerable insights while they avoid catching the virus as the educational texts teach plenty of personal finance topics. These subjects consist of getting out of debt, better budgeting, and building one’s wealth, among many others. The enriching references enable the families to understand that achieving sound financial literacy is a lifelong journey, too. Reading them can help parents and their children not only become financially shrewd but will also boost their family’s financial security in the long run.

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callum

Aussie copywriter from Melbourne's Dandenong Ranges, passionate about all things lifestyle - particularly Finance.

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